Welcome to our dedicated page for Avery Dennison news (Ticker: AVY), a resource for investors and traders seeking the latest updates and insights on Avery Dennison stock.
Avery Dennison Corporation (NYSE: AVY) delivers innovative labeling solutions and RFID technology that power global supply chains and consumer branding. This news hub provides investors and industry professionals with direct access to official announcements, financial updates, and strategic developments from the materials science leader.
Track comprehensive coverage of earnings reports, sustainability initiatives, product innovations, and partnership announcements. Our curated collection features verified press releases on:
- Quarterly financial performance and dividend declarations
- Breakthroughs in smart labeling and RFID technology
- Sustainable packaging advancements
- Strategic acquisitions and global market expansions
Bookmark this page for real-time updates on Avery Dennison's leadership in pressure-sensitive materials and digital identification solutions. Monitor operational milestones that shape the future of retail logistics, healthcare labeling, and industrial adhesives.
Avery Dennison Corporation (NYSE:AVY) reported a 12% decline in net sales for Q1 2023, totaling $2.1 billion, with earnings per share (EPS) of $1.49 and adjusted EPS of $1.70, reflecting a 29% drop year-over-year. The company revised its FY 2023 EPS guidance down, now projecting reported EPS of $8.35 to $8.70 and adjusted EPS of $8.85 to $9.20, lower than previous estimates. The Materials Group experienced a 13% decline in sales, while the Solutions Group saw an 11% drop. The overall operating margin also decreased, with the company anticipating improvements in the second half of the year as inventory destocking moderates and intelligent label programs accelerate. Avery Dennison is focusing on cost-saving measures, realizing approximately $9 million in pre-tax savings, despite incurring restructuring charges. The balance sheet remains strong with a net debt to adjusted EBITDA ratio of 2.5.
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